Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

PUNE: Real estate Investment will reap very good returns in upcoming areas of Viman Nagar and Kharadi which are surely replicating the successful development of Koregaon Park and Kalyani Nagar. IN Viman Nagar, already people know that it will be a one of the best living place and Kharadi will be the next place to invest in. so guys, do't miss the opportunity to invest in Viman Nagar and Kharadi area...................

It seems that realty sector is on the path of recovery, with developers reporting an improvement in apartment sales in the three months ended June compared with previous quarters, although there's no boom yet. Parsvnath Developers Ltd sold 400 apartments (600,000-700,000 sq. ft) across segments compared with sales of just 70-80 apartments during the preceding quarter. Sales figures in the residential market have picked up in Mumbai and the National Capital Region centred on New Delhi in recent months, with demand increasing for affordable housing. As per a 13 July report by Motilal Oswal Securities Ltd, developers such as DLF, Unitech Ltd, Indiabulls Real Estate Ltd, Housing Development and Infrastructure Ltd and Puravankara Projects Ltd launched a total of 35 million sq. ft during the first quarter out of which they sold 15.8 million sq. ft, almost half of what was launched. Source: livemint

Eyeing fresh signs of a revival in the economy, which should nudge growth back to 9% level by end-2010, finance minister Pranab Mukherjee announced fresh tax giveaways for housing and renewed the government’s commitment to more economic reforms and introduction of a single goods and services tax (GST) by 1 April. The move, expected to further boost housing demand in the economy especially in tier II cities, also seeks to quell growing criticism that the Congress-led United Progressive Alliance (UPA) is averse to second-generation reforms. Replying to the debate on the Finance Bill, which was approved by a voice vote by the Lok Sabha, Mukherjee renewed his efforts to strike political consensus on key areas of tax reform, including the introduction of a direct tax code. The reply also calibrated a few of his 6 July Budget tax proposals, which are not expected to result in big revenue giveaways, thereby precluding the possibility of a marked increase in the Rs4 trillion fiscal deficit for

The minister for housing and urban poverty alleviation, Kumari Selja has announced a model bill for regulating the real estate sector by August-September timeframe. Talking about the 100 day agenda for her ministry, Selja said that the Model Bill would propose a regulator and aim to address the concerns of consumers as well as the real estate industry. The finer details of the Model Bill could not be ascertained. She said, “We have initiated a dialogue with all key stakeholders including private sector, NGOs, and various States to prepare the model Bill for regulating the real estate sector.” Bangalore -based realtor Ozonegroup has announced the launch of its maiden township project — ‘The Metrozone’ — in Chennai . The project will be a joint venture between Ozonegroup, HDFC India Real Estate Fund and Urban Infrastructure Opportunities Fund and would involve an overall investment of Rs 2,500 crore and is likely to be completed in about 52 months. Spread over an area of 42.5 acres, the

The government is considering a proposal to hike income-tax exemption available for interest payment on home loans to Rs 2.5 lakh a year, to boost demand and rebuild the slowdown-hit housing industry. The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to this effect as part of his Budget presentation in early July, a government official said on condition of anonymity. At present, taxpayers taking housing loans are eligible for income-tax exemption on interest payment of up to Rs 1.5 lakh every year. Besides this, the repayment of principal amount is part of investments eligible for benefit under Section 80(C) of the Income-Tax Act, which has a ceiling of Rs 1 lakh. The government has already identified housing as one of its focus areas, a fact highlighted by President Pratibha Patil in her address to both the houses of Parliament. The existing tax exemption limit is considered inadequate at a time when a two-bedroom house i

PUNE: Suggesting the functional structure for the proposed Pune Metro Rail Corporation (PMRC), the Delhi Metro Rail Corporation's (DMRC) final draft report envisages that the Pune metro project can be completed by 2014-2015 at a cost of Rs 8,401 (corridor -I) and Rs 9,534 (corridor II). The report says that the Pune metro, like the DMRC, can ask for concession on value-added tax as well as concession in electricity and other municipal taxes. "The PMC needs 64,435 hectares of land for the metro. Beside this, there is a need for another 4 hectares of land which could come from the Agriculture college land. This 1,04,435 hectares could be commercially exploited and developed by allowing 4 FSI. Around Rs 600 crore could come in this way," says the report. In practical terms, however, this might not be so easy. The agriculture college has already announced that it will not give its land for the project. "The area, along with the metro corridor, could be commercially expl

Dear All, The Good news is that real estate market is reviwing in india and showing positive upward trends and promising immense opportunities for investment. Eventhough there is a planty of demand and many home seekers are looking for investing in realestate of india but surely waiting for good buy for money. Now right time has come to take decision as have got premium residential project named "Hills & Dales" for offing in pune which is one of the best city of india with all parameters and the project "Hills & Dales" has all ingredients to be called true flavor of pune as having one of the fascinating location of upcoming NIBM Road, surrounded with hills and having all best addresses of schools, clubs and many more with easy proximity to heart of the city, railway station etc. The Hills & Dales project is having only spacious apartments of 3 BHK (Area 1675 Sqft.) and Penthouses (area 2030 Sqft.) of big size and looking to accommodate living lavishly at

Real estate firm Naiknavare Developers said ori Friday the company has launched, jointly with its hospitality arm Seasons, two-bed room to six-bed room luxury apartments for long stay customers under the brand name Seasons Luxury Homes. The intended users of the properties will be corporate managerial personnel who will be in Pune for long durations of even up to a couple of years. Hemant Naiknavare; director of the company, said the property will offer features and services such as fully furnished apartments, relocation service, house-keeping, residential assistant and meals on call. The customers - being long stay ones - will have the freedom to hire unfurnished apartments and use their own furniture and other interiors, Naiknavare said. The rentals for the apartments will range from Rs 35,000 per month for a two bed room house to Rs 140,000 for a six bed room one, he said. --> Source:The Times of India

As developers cut debt, offload assets and push sales, investors start trickling back Investors and analysts have begun re-rating the realty sector on optimism that the worst may be over, as the efforts of recent months and a stable global environment will help developers attract funds and boost earnings. Developers in the past year have restructured debt, sold non-core assets and tweaked product mix, helping to push up sales. This has encouraged investors to buy stocks of real estate companies and motivate analysts to revise price targets and upgrade the outlook on the sector. "The stabilisation in the international market improved financials arising out of restructuring of loans and enhanced liquidity from banks have resulted in revision in the outlook for the sector," said Dipesh Sohani, an analyst with MF Global, an equity brokerage. "The real estate players are better placed now than what they were two-three quarters before." Reflecting the positive sentiment,

WITH an upswing in the Indian equity market, the tide seems to be turning particularly for real estate developers. Realty stocks have recovered 50-60% from their 52-week lows. Recently, realty majors Unitech, Indiabulls and DLF came out with their qualified institutional placement (QIP) issue and it received a very good response. The three companies cumulatively raised a little over Rs 8,000 crore. The success of this fund-raising activity brings hope for this cash strapped sector when demand offtake is very low. Indiabulls Real Estate issued 14.36 crore equity shares at Rs 185 per share to raise Rs 2,656.5 crore through QIP. It is believed that Indiabulls will use the funding for its projects in Mumbai. Unitech too raised $325 million through QIP. Part of the funds would be used to repay debt. The promoter's stake afterthe QIP has come down in both the cases. DLF's promoters sold 9.9% stake in DLF for Rs 3,850 crore to its existing institutional investors. This money is raised

PUNE, The bait is getting more and more attractive in these Lok Sabha elections. Rice at Rs 3 per kg and film star Chiranjee-vi's LPG at Rs 100 are passe. Now the Congress candidate in Pune, Suresh Kalmadi is promising cheap one BHK flats for the middle income group if he is voted to power ,apart from 350 square feet pucca houses for slum dwellers in the city. "My manifesto will be declared soon and I will be giving out details in these. But there are many ceiling lands that could be used for such projects," he told reporters at his first press conference after being given the party ticket to contest the Pune Lok Sabha seat. What he plans to do is release lands in reserved zones that have been blocked for long because of the ULC and use these for such projects. The slum dwellers and the middle income group have always voted for me and I should not forget them, he said. Meanwhile, his rival, builder-turned-politician DS Kulkarni, who has thrown his hat into the ring and is

Dear Friends, It's been a quite a busy time in both personal and business front eventhough in currnet market situation as we get more enquiries and there is real end user demand and again becoming investors parasise where good deals are concluded and show is going on..... Further, i wish to thank first to my EAAP(Estate Agents' Association of Pune) to organize such a great, remarkable show of NAR (National Associations of Realtors) Convention held on 6 & 7th March,2009 at Correnthan Club, NIBM, Pune and brought us together to share vast knowledge of NAR-US real estate representatives and learnt quite an interesting aspects of improving business traits and improve quality/transparancy in our dealings and provide professionalism. Specially i wish to thanks Ms. Gail Lyons (Chief Course Instructor) who is also realtor in US to share her vast experience with us and given great useful inputs to implement for betterment of real estate service profession. I really personaly feel th

Following in State Bank of India's (SBI's) footsteps, other state-run banks may also come out with scheme offering home loan at a fixed rate of 8%. The Indian Banks' Association (IBA) would review the response of borrowers towards the SBI scheme after three weeks and if it finds that there has been a good response, other banks will follow suit, according to a top IBA official. "We would review the consumer's response (towards the scheme) and then take a decision accordingly," IBA chairman T S Narayanasamy told ET on the sidelines of a meeting here on Monday. Mr Narayanasamy is also the chairman of Bank of India (BoI). He said the review would be conducted after the completion of three weeks of the launch of the scheme.Last week, SBI had announced that it would offer home loans at a flat rate of 8% to all borrowers and would freeze this rate for one year. The chairman of one of the major banks, who asked not to be named, said SBI can afford to lend at such chea

There are still buyers for the super luxury home segment in Pune. Developers claim that despite depressed market conditions, this niche segment continues to attract investors. However, some of them have had to bring down rates to lure customers. Marvel Realtors, automated super luxury homes maker says that sales have picked up in the last one and half months due to correction in rates and banks easing lending. "Initially, buyers were holding decisions. With some correction in rat,es, they feel they are getting value for money. We have offered discounts of 10% to 15% less, than what we were selling at peak season rates," Vishwa-jeet Jhavar, CEO, Marvel Realtors said. Marvel has sold around Rs 20 crore worth properties in the past one and half months. "The first phase of Marvel Diva of around 3 lakh square feet is ready for possession by May 2009 and we sold 2.40 lakh square feet. These flats are in the range of Rs 80 lakh to Rs 5 crore," Jhavar said. The super 1uxury

PROPERTY developers building residential complexes will not have to pay service tax on sale of apartments now, as the tax department has cleared the ambiguity on taxability of these companies. The Central Board of Excise and Customs (CBEC) in a circular has said construction service provided by a builder to a person buying the apartment till the execution of sale deed would not attract service tax. Usually, developers enter into an 'agreement to sell' with the buyer of the property. But the property remains under the ownership of the developer and it is only after the completion of the construction and full payment of the agreed sum that a sale deed is executed and ownership of the property transferred to the buyer. "Therefore, any service provided by such seller in connection with the construction of residential complex till the execution of such sale deed would be in the nature of 'self-service' and consequently will not attract service tax," the circular sa

Ahmedabad: After Lavasa hill city near Pune, construction and infrastructure major Hindustan Construction Company (HCC) is cementing plans to built a waterfront city at Dholera with an investment of Rs 40,000 crore. The company has already inked an MoU with Gujarat Infrastructure Development Board to develop the city over 4000 acres in Dholera Special Investment Region (SIR) located at the Gulf of Cambay about 129 km from Ahmedabad. Dholera is in the influence area of the Delhi-Mumbai Industrial Corridor (DMIC). HCC chairman and managing director Ajit Gulabchand, who also made an announcement to the effect at the Vibrant Gujarat Global Investors' Summit 2009, said that project would involve creation of a economically self-sustaining city with tourism, hospitality, leisure, education and research at its core and would have an employment generation potential of 50,000 jobs. "The concept of new urbanism is gaining momentum globally and we are happy to initiate this modern and sus